Home Purchase Demand Rises at Slower Rate in June: Redfin

Demand for home purchases rose in June although more slowly than in previous months, the online real estate brokerage Redfin said. The firm also projected a slowdown in the rise of home values.

Homebuyers' demand rose 13% in June, compared to a year earlier, according to Redfin's new Housing Demand Index. The results are based on the number of visits to the Seattle company's online listings, as well as the number of requests for home visits submitted to Redfin agents.

Redfin is projecting a slower rise the rest of the year, due to buyer fatigue over high prices and a lack of available homes.

"Homebuyers in D.C. have reached their limit when it comes to price," Dan Galloway, a Redfin agent in Washington, said in a news release.

"Homebuyers are still touring in force, but they're more price sensitive," Nela Richardson, Redfin chief economist, said in the release.

Redfin forecasts that home prices will rise 4.3% in July, from a year ago. Also, prices will rise 2.2% in August.